Neuroprosthetics Market Analysis By Industry Size, Share, Revenue Growth, Development and Demand Forecast

SDKI Inc. published a new report on the Neuroprosthesis Market-Forecast 2022-2031. This study includes the statistical and analytical approaches needed to grow the neuroprosthesis market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-53307

The neuroprosthesis market is estimated to grow from a market value of approximately US $ 5,201 million in 2022 to approximately US $ 7,396 million by 2031, with a CAGR of 4.5% during the 2022-2031 forecast period.

A neural prosthesis is a medical device designed to supplement the inputs or outputs of the nervous system. These devices are linked to the central nervous system and convert electrical neural activity from the brain into control signals to control prosthetic limbs and restore lost sensory function. Nerve prostheses work to enhance the organism's motor, sensory, and cognitive abilities. Many research studies suggest that nerve prostheses significantly improve the quality of life of patients suffering from motor disorders such as amputation and paralysis.

The continued increase in neurological disorders such as epilepsy, Parkinson's disease, tremor and dystonia is a major driver of growth in the neuroprosthesis market during the forecast period. According to the WHO, neurological disorders account for 6.3% of the world's chronic disease burden and are one of the leading causes of death in the world, with 13.2% dying in developed countries and 16.8% in low- and middle-income countries. .. In addition, technological advances in neuroprosthesis are expected to create opportunities for growth in the neuroprosthesis market. In September 2019, MED-EL announced the launch of RONDO 2, a cochlear implant audio processor that can be charged wirelessly. This will improve the use of these implants among patients. Other notable advances include robot-assisted implantation, microelectrodes, multi-target stimulation, and the emergence of integrated implantable pulse generators.

However, the high costs associated with neuroprosthesis can curb the growth of the neuroprosthesis market during the forecast period.

Sample URL of the report
https://www.sdki.jp/sample-request-53307

Neuroprosthesis market segment

The neuroprosthesis market is divided by type (cochlear implant, motor prosthesis, cognitive prosthesis, retinal implant), technology (VNS, SCS, DBS, SNS), application, and region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Based on type, the market is divided into cochlear implants, motor prostheses, cognitive prostheses, and retinal implants. The athletic prosthesis segment accounts for 43.25%, the largest share of the overall market in 2019. These prostheses are also known as the Brain Machine Interface (BMI), which helps restore motor function in patients with neuropathy. Increased research activity on neuromotor prostheses is expected to drive growth in this segment.

Regional overview of the neuroprosthesis market

neuroprosthesis market is further subdivided based on the region, and the market growth of each country is evaluated. These include North America (US, Canada, and other North America), Europe (Germany, France, Italy, Spain, UK, and other Europe), Asia Pacific (China, Japan, India, Australia, Singapore, and others). Asia Pacific) and other regions.

The North American region recorded the largest share of the overall neuroprosthesis market. This is due to the activation of R & D activities. Meanwhile, the European neuroprosthesis market is also expected to grow at a considerable rate during the forecast period. Increasing rates of neuropathy and increased product demand are key drivers of the growth of the neuroprosthesis market in the region. In addition, developing regions such as the Asia-Pacific region and Latin America are expected to grow at the highest growth rates during the forecast period. This is due to the government's favorable initiative and increased awareness.

Key Players in the Neuroprosthesis Market

Key players in the Neuroprosthesis Market include Cochlear Limited, St.JudeMedical, Inc., Medtronic, Inc., Nervo Corporation and MED-EL. This study includes a detailed competitive analysis of these major companies in the neuroprosthesis market, corporate profiles, recent developments, and key market strategies.

Details of the Survey Report
https://www.sdki.jp/press-details/nerve-prosthesis-market/625

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This release was published on openPR.